Why did Michael Jordan sell the Hornets?

Earlier this year, NBA legend Michael Jordan sold his majority stake ownership of the Charlotte Hornets to Gabe Plotkin and Rick Schnall for $3 billion. Plotkin and Schnall are now in charge of all major operations for the franchise. The move came as surprising news to many MJ fans considering how Jordan has run the company for over a decade.

Jordan initially stayed quiet for a couple of months about the reasons why he sold the franchise. Then came August, when he clarified things through an open letter to Hornets fans, which you can find on the NBA's official website.

Jordan revealed that he wanted to spend more time with his family. On top of that, the basketball legend also wants to explore new business ventures and see what other opportunities he can take.

“Although my love for the game of basketball and the NBA remain strong, now is the right time for me to hand over the reins and focus on my family, my personal interests and some new challenges,” Jordan said. “I’m excited to see what the future holds, and I look forward to supporting the team and the community in my new role for many years to come."

While MJ may no longer be running the show in Charlotte, that doesn't mean he's no longer part of the team. As Jordan mentioned, he will now take on a new role considering how he's still a minority owner of the Hornets franchise. It remains to be seen what Plotkin and Schnall have in store for him.

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Looking back at Michael Jordan's ownership of the Charlotte Hornets

Michael Jordan

The story began in 2010 when Michael Jordan, who was already a minority owner of the Charlotte Bobcats, increased his stake in the team. His commitment to the franchise was clear, and his aspiration to shape its destiny was evident.

In 2014, this passion culminated in a significant milestone: Jordan became the principal owner of the franchise, marking the first time a former NBA player became the majority owner of an NBA team.

Under Jordan's ownership, the Bobcats underwent significant transformations. From rebranding the franchise's name back to the Hornets to rebuilding the roster, he was at the helm of these critical decisions. He also understood the importance of community engagement, making efforts to connect with fans and enhance the team's presence in Charlotte.

Michael Jordan's journey from playing on the hardwood to becoming the big boss of the Charlotte Hornets franchise is a testament to his enduring love for the game of basketball. His ownership of the Hornets will forever be part of NBA history, showcasing how one man's passion and dedication can shape the destiny of a team and inspire a new generation of players and fans.